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Alvarion Up 4%
ChangeWave said to Tout Stock

NEW YORK -- Shares of Alvarion Ltd. (ALVR) hit a new 52-week high on heavy volume Wednesday, amid talk that high-profile stock picker Tobin Smith had plugged the stock in a report.

Smith, founder and investment advisor at ChangeWave Research, highlighted Alvarion's WiMAXbroadband wireless access technology, saying the rollout is hitting critical mass in China, India and Latin America, according to market players.

A representative for ChangeWave said the firm couldn't immediately comment.

An Alvarion spokeswoman said it was company policy not to comment on any stock movement.

WiMAX technology - like Wi-Fi - provides high-speed wireless Internet access. WiMAX's range can reach as far as 30 miles, while Wi-Fi's reach is about a couple of hundred feet.

In early February, the company reported a fourth-quarter profit on revenue of $39.5 million, up 15% sequentially and well above the $22.3 million the Tel Aviv-based company posted a year earlier.

Alvarion has said it expects 2004 revenue to jump 40% from $127 million reported in 2003.

Rockville, Md.-based ChangeWave , is a subsidiary of Phillips International Inc., and provides market research through a variety of newsletters to subscribers.

Shares of Alvarion recently changed hands at $15.02, up 4.2% or 61 cents. Earlier the stock hit an intraday high of $15.50, passing the previous 52-week high of $15.47 set on Friday. The shares traded as low as $1.86 around this time last year.

Volume is heavy, with more than 4.6 million shares changing hands compared with average daily turnover of 832,900.